ASEANA PROPERTIES CORPORATE PRESENTATION

1
August 2014
Corporate Presentation
ASEANA PROPERTIES LIMITED

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DISCLAIMER
The information contained in this confidential document (the “Presentation”) has been prepared by Aseana Properties Limited (the “Company”). It has not been fully verified and is subject to material updating, revision and further amendment. This Presentation does not constitute or form any part of any offer or invitation or other solicitation or recommendation to purchase any securities. The information contained herein is for discussion purposes only.
While the information contained herein has been prepared in good faith, neither the Company nor any of its shareholders, directors, officers, agents, employees or advisers give, have given or have authority to give, any representations or warranties (express or implied) as to, or in relation to, the accuracy, reliability or completeness of the information in this Presentation, or any revision thereof, or of any other written or oral information made or to be made available to any interested party or its advisers (all such information being referred to as “Information”) and liability therefore is expressly disclaimed. Accordingly, neither the Company nor any of its shareholders, directors, officers, agents, employees or advisers take any responsibility for, or will accept any liability whether direct or indirect, express or implied, contractual, tortious, statutory or otherwise, in respect of, the accuracy or completeness of the Information or for any of the opinions contained herein or for any errors, omissions, misstatements or for any loss, howsoever arising, from the use of this Presentation.
This Presentation has not been approved by an authorised person in accordance with Section 21 of the Financial Services and Markets Act 2000. As such, this Presentation is being made and distributed in the United Kingdom only to (i) persons having professional experience in matters relating to investments, being investment professionals within the meaning of Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”), (ii) high net-worth companies, unincorporated associations and other bodies within the meaning of Article 49 of the Order and (iii) persons to whom it is otherwise lawful to make the Presentation. This Presentation is not to be disclosed to any other person or used for any other purpose. The investment or investment activity to which this presentation relates is available only to such persons and will be engaged in only with such persons. Persons in the United Kingdom who fall outside categories (i) or (ii) above must check that they fall within category (iii). If they do not they should not attend this Presentation. Any other person who receives this Presentation should not rely or act upon it and should return it to the Company immediately. By accepting this Presentation, the recipient represents and warrants that they are a person who falls within the above description of persons entitled to receive the Presentation.
Neither this Presentation nor any copy of it may be distributed, published or reproduced, in whole or in part, by you or any other person for any purpose. Subject to certain exceptions neither this presentation nor any copy of it may be distributed or transmitted in or into the United States of America, Canada, Australia, Japan or the Republic of South Africa or in any other country outside the United Kingdom or the Republic of Ireland where such distribution may lead to a breach of law or regulatory requirements or transmitted, distributed or sent to or by any national, resident or citizen of such countries or to any US person (within the definition of Regulation S made under the US Securities Act 1933 (as amended)). Notwithstanding the foregoing, the Company may distribute this Presentation to US persons, United States residents, corporations or other entities if the Company is satisfied that an applicable exemption applies. Distribution of this document in the United States in the absence of such an applicable exemption may constitute a violation of United States securities law. The distribution of this Presentation in certain jurisdictions may be restricted by law and therefore persons into whose possession this Presentation comes should inform themselves about and observe any such restrictions. Any such distribution could result in a violation of the securities law of any such jurisdiction.
This Presentation is being made on the basis that the recipients keep confidential any information contained herein or otherwise made available, whether orally or in writing, in connection with the Company. This Presentation is confidential and must not be copied, reproduced, published, distributed, disclosed or passed to any other person at any time without the prior written consent of the Company.
Figures used are approximate and have been rounded up or down where appropriate.

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OVERVIEW
Aseana Properties is an upmarket property developer in the emerging markets of Southeast Asia
Admission date
5 April 2007 on London Stock Exchange Main Market
Geographical Focus
Malaysia and Vietnam
Investment Focus
Upscale residential, commercial and mixed developments
Typical Investment Entry
Pre-construction stage. May consider projects under construction and newly completed projects with high capital appreciation potential
Investment Objective
Generate total returns primarily through capital appreciation
Company Structure
Jersey incorporated
Development Manager
Ireka Development Management Sdn. Bhd.

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THE COMPANY
Aseana Properties operates within the parameters of these business principles to maximise returns of each development project
Diversifying to generate attractive returns
Focusing on upscale developments
Employing appropriate leverage
Current fund allocation (by NAV): 74% Malaysia, 26% Vietnam
Funds fully allocated to existing projects
Focuses on upscale residential, commercial and mixed developments
Prime and high-growth locations
Employs appropriate debt leverage to enhance overall returns
60% to 80% of total development costs, depending on project and prevailing environment
Managing development portfolio actively
Rigorous hands-on approach: sourcing, developing, marketing
Seeks to maintain shareholder/management control in development entities
Typically invests at pre-construction stage for maximum value realisation

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2013 GDP Growth: 4.7%
Population (2012): 29.24 million
68% of population between age 15 - 64
GDP per capita (2012): US$10,432
2013 FDI: US$11.85 bn
Established Housing Development Act and Strata Titles Act
RPGT is exempted for individuals and 5% for corporations if holding period is longer than 5 years
Removal of FIC approval for all property transactions valued below RM20m
Mortgages up to 95% of property value, up to 35 years
Introduction of Economic Transformation Programme which aims to create a high income economy by year 2020
2013 GDP Growth: 5.42%
Population (2012): 88.77 million
71% of population between age 15 - 64
GDP per capita (2012): US$1,755
2013 FDI: US$21.60 bn
Land Law and related regulations enacted in May 2013
Regulation allowing foreigners with work permit, Viet Keus (overseas Vietnamese) and expats to purchase property
Mortgages up to 70% of property value, over 15 years
Preferential home loans of VND30 trillion (US$1.43 billion) for low income earners
Recent Government efforts to restructure banking system including setting up of VAMC
OVERVIEW OF MALAYSIA AND VIETNAM
Malaysia and Vietnam share common characteristics that will continue to drive the growth of real estate in coming years
Vietnam
Four common characteristics of Malaysia and Vietnam:
1.Increasing standard of living and urbanisation driven by a burgeoning young and middle class population
2.Pro-active Government role in encouraging private sector participation in real estate development, and promoting land and property ownership
3.Improving availability of mortgages to encourage property ownership
4.Favoured FDI destination driving demand for commercial properties
Malaysia
Source: World Bank Group, IMF, GSO Vietnam, MITI, Company research

1 Mont’ Kiara by i-ZEN, Kuala Lumpur Office tower, office suites and retail mall GDV: US$166 million Effective ownership structure: 100% ASPL Status:
-100% sold (Q1 2014: 100%)
-Strata title received in April 2014, upon which final payment of approx. US$0.8 million received in May 2014 At 30 June 2014: NAV: US$1.59; RNAV: US$1.59 Outstanding Debt: Nil
Tiffani by i-ZEN, Kuala Lumpur 399 units of luxury condominium within two 28-storey blocks and a 36-storey block Expected GDV: US$124 million Effective ownership structure: 100% ASPL Status:
-99% sold as at 13 August 2014 (19 June 2014: 99%), targeted 100% sales by end 2015 At 30 June 2014: NAV: US$3.52 million; RNAV: US$3.52 million Outstanding Debt: Nil
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ASEANA PROPERTY PORTFOLIO - MALAYSIA

Sandakan Harbour Square, Sandakan, Sabah
Urban redevelopment in the “Nature City” of Sandakan
129 retail lots, retail mall and 299-room hotel
Expected GDV: US$157 million (US$110 million for HMS and FPSS)
Effective ownership structure: 100% ASPL
Status:
- Retail lots: 100% sold
- Harbour Mall Sandakan (“HMS”) and Four Points by Sheraton
Sandakan Hotel (“FPSS”) commenced operation in 2012
- HMS occupancy: 47% as at 13 August 2014
- FPSS occupancy: 42%, ADR: RM202 (US$63) for the period from
January 2014 to July 2014
- Planned sale by year 2015
At 30 June 2014: NAV: US$38.34 million; RNAV: US$45.91 million
Outstanding Debt: US$76.3 million under the Medium Term Notes
Programme (“MTN”)
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SENI Mont’ Kiara, Kuala Lumpur
605 units of luxury condominiums within two 12-storey and two
40-storey blocks
Expected GDV: US$490 million
Effective ownership structure: 100% ASPL
Status:
-Winner of FIABCI Malaysia Property Award 2013 for Best High
Rise Residential Development and FIABCI Prix d'Excellence
Silver Award 2014 for High Rise Residential Development
- 91% sold as at 13 August 2014 (19 June 2014: 90%)
- A further 6% (36 units) currently under negotiation with
prospective buyers; remaining 3% (20 units), of which 2% (12
units) are penthouses and plaza units are available for sale
- Targeted sales: 97% by end of 2014;100% by Q2 2015
At 30 June 2014: NAV: US$47.71 million; RNAV:US$70.43
million
Outstanding Debt: Nil

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Kuala Lumpur Sentral Project, Kuala Lumpur Two office towers and business class hotel Expected GDV: US$256 million Effective ownership structure: 40% ASPL, 60% MRCB Status:
-Construction completed in December 2012
-100% sold (Q1 2014: 100%)
-Entered into a share sale agreement with MRCB to dispose of 40% stake in EBSB for cash consideration on RM20 million (US$6.21 million). Transaction was completed on 19 August 2014
- Aseana is expected to record a gain of approximately RM16.4 million (US$5.1 million) from the disposal of 40% stake in EBSB At 30 June 2014: NAV: US$2.73 million; RNAV: US$5.99 million
Aloft Kuala Lumpur Sentral Hotel, Kuala Lumpur 482-room business class hotel Expected GDV: US$127 million Effective ownership structure: 100% ASPL Status:
-Hotel managed by Starwood; opened for business in 2013
-Aloft occupancy: 66%, ADR: RM316 (US$98) for the period from January 2014 to July 2014
-Planned sale by end of year 2014 At 30 June 2014: NAV: -US$4.07 million; RNAV: US$44.34 million Outstanding Debt: US$83.8 million under the MTN programme

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The RuMa Hotel and Residences, Kuala Lumpur 199 luxury residences and a 253-room luxury bespoke hotel Expected GDV: US$197 million Effective ownership structure: 70% ASPL, 30% Ireka Corporation Berhad Status:
-Construction work commenced in February 2013
-Off-plan sales for residences; sales and leaseback for hotel suites
-43% sold as at 13 August 2014 (19 June 2014: 44%); 8% booked as at 13 August 2014 (19 June 2014: 7%)
-Completion expected by early 2017 At 30 June 2014: NAV: US$11.25 million; RNAV: US$11.25 million Outstanding Debt: US$20.3 million
Seafront resort and residential development, Kota Kinabalu, Sabah Boutique resort hotel, villas and homes on 80 acres Expected GDV: US$16 million Effective ownership structure:
-Resort hotel and villas – 100% ASPL
-Resort homes – 80% ASPL, 20% Global Evergroup (Local Developer) Status:
-The Board has decided to dispose of the land At 30 June 2014: NAV: US$12.56 million; RNAV: US$16.39 million Outstanding Debt: Nil

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International Hi-Tech Healthcare Park and City International Hospital, Ho Chi Minh City, 37 hectares of commercial and residential development with healthcare theme Expected GDV: US$670 million Effective ownership structure: 67.2% ASPL, 32.8% Hoa Lam Group and associates Status:
-Phase 1- City International Hospital (“CIH”); managed by Parkway Pantai; Business commenced on 24 September 2013 with limited services; official opening on 5 January 2014; Planned divestment of CIH over the course of next 3 years
-A plot of land measuring 4.7 hectares (11 acres) at the International Hi-Tech Healthcare Park (“IHTHP”) was disposed of and development rights transferred to AEON Vietnam Co. Ltd. (“AEON Vietnam”). The transaction was completed on 1 August 2014
-95% of the net cash consideration of US$23 million was received and the remaining 5% will be received upon completion of certain road infrastructure on the land expected to complete in Q4 2014
-Other parcels of land to be developed or sold on as-is basis At 30 June 2014: IHTHP : NAV: US$8.65 million; RNAV: US$36.92 million City International Hospital : NAV: US$11.18 million; RNAV: US$13.31 million Outstanding Debt: i) IHTHP: US$16.7 million of which US$14.6 million was repaid in August 2014 from the cash proceeds received from the sale of land to AEON Vietnam; ii) CIH: US$37.8 million was drawn down to-date to part finance CIH’s development
ASEANA PROPERTY PORTFOLIO - VIETNAM

Equity Investment in Nam Long, Ho Chi Minh City Listed equity investment Expected GDV: N/A Effective ownership structure: 12.9% (reduced from 16.3% following the placement of 25.5 million shares in February 2014) Status:
-A total increase in fair value of US$25,607 was recognised as at 30 June 2014 reflecting share price of VND17,400 (US$0.82)
-Share price as at 26 August 2014: VND18,600 (US$0.87) per share At 30 June 2014: NAV: US$12.73 million; RNAV: US$12.73 million Outstanding Debt: Nil
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ASEANA PROPERTY PORTFOLIO - VIETNAM
Waterside Estates, District 9, Ho Chi Minh City 37 villas and 460 units within high-rise apartments Expected GDV: US$100 million Effective ownership structure: 55% ASPL, 45% Nam Long Status:
-Sales launch for Phase 1 (37 units of villas) targeted for second half of 2014 subject to broader market recovery At 30 June 2014: NAV: US$8.70 million; RNAV: US$8.70 million Outstanding Debt: Nil

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OPERATING ASSETS PERFORMANCE
Period ended July 2014 (US$ mil)
Occupancy (%)
42%
Average Daily Rate (US$)
63
Revenue
2.46
Finance cost
(4.15)
Net loss
(1.73)
Four Points by Sheraton Sandakan Hotel
Occupancy (%)
66%
Average Daily Rate (US$)
98
Revenue
10.53
Finance cost
(2.89)
Net loss
(2.63)
Aloft KL Sentral Hotel
Occupancy (%)
47%
Revenue
0.68
Finance cost
(1.24)
Net loss
(1.61)
Harbour Mall Sandakan
Inpatient days
1,429
No. of outpatient visits
5,069
Average inpatient revenue per patient days
411
Average outpatient revenue per visit
82
Revenue
0.97
Finance cost
(1.34)
Net loss
(7.57)
City International Hospital
Note: Results from 1 January 2014 to 31 July 2014

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FINANCIAL HIGHLIGHTS: STATEMENT OF COMPREHENSIVE INCOME (1)
Period ended
30 June 2014
(US$ mil)
Period ended
30 June 2013
(US$ mil)
Revenue 1
31.49
10.22
Cost of sales
(24.95)
(8.38)
Gross profit
6.54
1.84
Other Income2
13.35
4.57
Operating expenses 3
(18.89)
(13.44)
Operating loss
1.00
(7.03)
Net finance expense 4
(5.53)
(3.68)
Share of results of associated company
(0.23)
(3.03)
Net loss before taxation
(4.76)
(13.74)
Taxation
(2.90)
(0.70)
Loss for the period5
(7.66)
(14.44)
Foreign currency translation differences for foreign operations
0.98
(3.49)
Increase/ (Decrease) in fair value of available-for-sale investments
0.03
4.36
Total comprehensive expense for the period
(6.66)
(13.57)
Basic and diluted loss per share (US cents)
(2.45)
(6.50)
Please refer to next page for explanatory notes.

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FINANCIAL HIGHLIGHTS: STATEMENT OF COMPREHENSIVE INCOME (2)
Notes:
1.Revenue was mainly attributable to sales of completed units at SENI Mont’ Kiara and Tiffani. No revenue was recognised for The RuMa, in accordance with IFRIC 15.
2.Included in the Other Income are revenue generated by operating assets of US$12.6 million (2013 : US$4.1 million). The operating assets are Four Points by Sheraton Sandakan Hotel (“FPSS”) and Harbour Mall Sandakan (“HMS”); Aloft Kuala Lumpur Sentral Hotel (“Aloft”) and City International Hospital (“CIH”) which commenced business in September 2013.
3.Operating expenses include operating expenses of the four operating assets of US$14.6 million (2013: US$5.4 million) and management fees, administrative expenses and marketing fees.
4.Included in the finance cost are interest on Medium Term Notes (“MTN”) and loans amounting to approximately US$5.7 million relating to the four operating assets. The increase in finance cost was mainly attributable to commencement of operation at Aloft and CIH in 2013.
5.Net loss for period June 2014 was largely due to operating losses and financing costs of FPSS and HMS totalling US$ 2.7 million together with operating loss and financing cost of CIH of US$4.9 million. The Group adopted IFRIC 15 – Agreements for the Construction of Real Estate, which prescribes that revenue be recognised only when the properties are completed and occupancy permits are issued. This resulted in certain costs being recognised ahead of revenue during the year.

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FINANCIAL HIGHLIGHTS: STATEMENT OF FINANCIAL POSITION (1)
Period ended
30 June 2014
(US$ mil)
Year ended
31 December 2013
(US$ mil)
Non-current assets
29.73
30.22
Current assets 1
459.61
464.57
TOTAL ASSETS
489.34
494.79
Shareholders’ equity
154.63
158.57
Non-controlling interest
9.27
11.43
TOTAL EQUITY
163.90
170.00
Current liabilities 2
112.05
133.16
Non-current liabilities 3
213.39
191.63
TOTAL LIABILITIES 4
325.44
324.79
TOTAL EQUITY AND LIABILITIES
489.34
494.79
Net asset value per share (US$) 5
0.73
0.75
Debt-to-equity ratio (%) 6
142.31
134.94
Net debt-to-equity ratio (%) 7
125.65
120.25
Please refer to next page for explanatory notes.

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FINANCIAL HIGHLIGHTS: STATEMENT OF FINANCIAL POSITION (2)
Notes:
1.Included in current assets are inventories of US$416.60 million (31 December 2013: US$428.61 million) comprising land held for property development, property development cost and stocks of completed units (at cost) and cash and cash equivalents of US$26.91 million (31 December 2013: US$24.58 million). The reduction in inventories of US$12.01 million was mainly due to additional units sold for SENI Mont’ Kiara and Tiffani.
2.Included in current liabilities are trade and other payables of US$79.47 million (31 December 2013: US$83.64 million), MTN of US$14.01 million (31 December 2013: US$13.74) and loans and borrowings of US$6.93 million (31 December 2013: US$25.47 million).
3.Non-current liabilities include MTN of US$143.33 million (31 December 2013: US$140.88 million) and loans and borrowings of US$68.97 million (31 December 2013: US$49.31 million).
4.Total liabilities include total outstanding debt of US$233.25 million (31 December 2013: US$229.39 million). The increase of debts of US$3.86 million is substantially due to the increase in MTN as a result of the strengthening of Ringgit against US Dollars.
5.NAV per share is calculated based on 212,025,000 ordinary shares in issue. 500,000 treasury shares were cancelled in December 2013.
6.Debt-to-equity ratio = (Total borrowings ÷ Total equity) x 100%
7.Net debt-to-equity ratio = (Total borrowings less Cash and cash equivalent and Held-for-trading Financial Instrument ÷ Total equity) x 100%

1.Cash and cash equivalents at 30 June 2014 was US$26.9 million; cash of US$0.4 million was invested in a money market fund which has been classified under held-for-trading financial instrument.
2.Borrowings were denominated in Malaysian Ringgit, United States Dollars and Vietnam Dong.
3.Borrowings were secured by charge on land and/or corporate guarantee of Aseana (recourse facilities).
4.Exchange rate as at 30 June 2014 – US$1: RM3.2113; US$1: VND21,315 (31 March 2014 – US$1: RM3.2658; US$1: VND21,105).
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SUMMARY OF DEBT
Project Name
Total Debt Limit
(US$ mil)
Unutilised Debt
(US$ mil)
Outstanding as at
30 June 2014
(US$ mil)
Remarks
International Hi-Tech Healthcare Park
26.3
9.6
16.7
Term loans to part finance land use right premiums and working capital.
43.3
5.5
37.8
Syndicated term loan facility of US$43.3 million secured for the development of City International Hospital, which will be fully drawn down in 2014.
The RuMa Hotel and Residences
20.3
-
20.3
US$20.3million (RM65.3 million) term loan to part finance the land purchase. Loan redemption will be via installment payments or sales proceeds; whichever earlier.
Sandakan Harbour Square
76.3
-
76.3
A 10-year guaranteed MTN programme to issue MTN of up to US$160.4 million (RM515.0 million) to fund Four Points by Sheraton Sandakan Hotel, Harbour Mall Sandakan and Aloft Kuala Lumpur Sentral Hotel.
Aloft Kuala Lumpur Sentral Hotel
83.8
-
83.8
Total
250.0
15.1
234.9

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VALUATION METHODOLOGY
Tiffani by i-ZEN
1 Mont’ Kiara by i-ZEN
The RuMa Hotel and Residences
Equity Investment in Nam Long Investment Corporation **
Waterside Estates
SENI Mont’ Kiara
At Net Asset Value (Cost / Fair Value Basis)
Sandakan Harbour Square
Kota Kinabalu seafront resort and residences
International Hi-Tech Healthcare Park
City International Hospital
Aloft Kuala Lumpur Sentral Hotel
Note: Kuala Lumpur Sentral Office Towers and Hotel has been valued based on the pro forma NAV as at 30 June 2014, assuming sales transaction was completed during the period under review. ** Fair value determined with reference to closing market price as at 31 March 2014
At Market Value (Discounted Cash Flow Method)
At Market Value (Investment / Residual / Comparison Method)
Note: Please see Appendix for explanation of Valuation Methodology
In addition to the disclosure of NAV under accounting standards, which does not allow for upward revaluation of partially completed developments, Aseana provides an estimate of the current project valuation through the calculation of Realisable NAV (RNAV) as follows:
Aseana has valued each project using the following valuation basis for the RNAV calculation:
RNAV of Company = Cash at Company + (Net Asset Value of Projects OR Market Value of Projects – Assumed Taxes) + Net Other Assets & Liabilities

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NET ASSET VALUE AND REALISABLE NET ASSET VALUE DETAILS (1)
Projects
Project NAV as at
30 June 2014
US$’mil
Project RNAV as at
30 June 2014
US$’mil
Malaysian projects:
Tiffani by i-ZEN
3.52
3.521
1 Mont’Kiara by i-ZEN
1.59
1.591
Sandakan Harbour Square
38.34
45.913
SENI Mont’Kiara
47.71
70.432
KL Sentral Office Towers & Hotel
2.73
5.996
Aloft Kuala Lumpur Sentral Hotel
-4.07
44.343
The RuMa Hotel and Residences
11.25
11.251
Kota Kinabalu seafront resort & residences
12.56
16.393
Vietnamese projects
International Hi-Tech Healthcare Park
8.65
36.923
11.18
13.313
Equity investment in Nam Long
12.734
12.734
Waterside Estates
8.70
8.701
Others
0.04
0.045
Total Project NAV/RNAV, c/f
154.93
271.12
Please refer to next page for continuation and explanatory notes.

Projects
Project NAV as at
30 June 2014
US$’mil
Project RNAV as at
30 June 2014
US$’mil
Total Project NAV/RNAV, b/f
154.93
271.12
Cash and cash equivalents 7
0.24
0.24
Other assets and liabilities
(0.54)
(0.54)
TOTAL NAV/RNAV
154.63
270.82
NAV/RNAV per share (US$)
0.729
1.277
NAV/RNAV per share as at 31 March 2014
Project NAV
Project RNAV
NAV/RNAV per share (US$)
0.749
1.291
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Notes:
1Projects carried at cost.
2Market value based on the valuation prepared on discounted cash flows by international independent valuers as at 30 June 2014, which excludes any taxes; whether corporate, personal, real property or otherwise, that are payable. These market values are further adjusted for assumed taxes by the Manager.
3.Market values based on residual/comparison/investment method of land/property value by international independent valuers.
4.Fair value determined with reference to closing market price as at 30 June 2014.
5.Comprise of projects which have been discontinued.
6.Pro forma RNAV as at 30 June 2014 following completion of sales transaction.
7.Relating to cash and cash equivalents solely at Aseana company level.
NET ASSET VALUE AND REALISABLE NET ASSET VALUE DETAILS (2)

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Total NAV : US$ 154.63 million
Total RNAV :US$ 270.82 million
NET ASSET VALUE AND REALISABLE NET ASSET VALUE BREAKDOWN
As at 30 June 2014
Malaysia, 73.5%
Vietnam, 26.7%
Cash at Company, 0.2%
Other Assets & Liabilities (Net), -0.4%
Malaysia, 73.6%
Vietnam, 26.5%
Cash at Company, 0.1%
Other Assets & Liabilities (Net), -0.2%

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FY2014 OUTLOOK
Ongoing sales of SENI Mont’ Kiara, Tiffani by i-ZEN and RuMa Hotel & Residences
Continuing efforts to improve performance of operating assets
Focus on realisation of completed operating assets and divestment of undeveloped lands
Near term goals of lowering gearing of the Group and returning capital to shareholders
Developing forward looking plan, in consultation with shareholders for continuation vote at AGM 2015

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THE COMPANY STRUCTURE
Company Structure
Jersey incorporated, London Listed
Shares Issued
212,025,000 Ordinary Shares
Voting Share Capital
212,025,000
Tax Structure
Tax resident of Jersey and is subject to a tax rate of 0%, project companies are tax residents in Malaysia and Vietnam
Governance
Independent non-executive Board of Directors, Experienced Investment Committee
Leverage
60% to 80% of total development costs
Term of Company
7 years, continuation vote after 7 years
Manager
Ireka Development Management Sdn. Bhd.
Corporate Broker
N+1 Singer
Auditor
KPMG Audit Plc
Management Fees
2% of NAV per annum, payable quarterly
Performance Fees
20% of excess over 10% hurdle rate, with high watermark, payable on realisation
Aseana Properties Limited (Jersey incorporated)
Ireka Development Management
Management Agreement
Project SPV 1
Equity Investors
Independent Non- Executive Board
Project SPV 2
Project SPV 3
Investment Committee

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VALUATION METHODOLOGY
The Realisable Net Asset Value of the Company as at 30 June 2014 has been computed by the Company based on the Company’s management accounts for the period ended 30 June 2014 and the Market Values of the property portfolio as at 30 June 2014. The market value of the property portfolio is determined on a discounted cash flow basis, comparison method, residual method or investment method on land or properties values by an independent firm of valuers. The market values, excluded any taxes; whether corporate, personal, real property or otherwise, that are payable. The valuations by independent firm of valuers have been performed in accordance with the International Valuation Standards (“IVS”) or in accordance with the Royal Institution of Chartered Surveyor Guidelines (“RICS”). In arriving at the Realisable Net Asset Value of Aseana, the Company have made assumptions on potential taxes deductible from Market Values, where applicable. These may include corporate income tax, real property gains tax or any transactional taxes, where applicable.

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OUR COMPETITIVE STRENGTHS
Aseana Properties and the Development Manager are well positioned to
harness development opportunities in Malaysia and Vietnam
 Three projects at different stages of
development and a listed equity investment
 Seven projects completed since admission
 Four operating assets
THE COMPANY
An attractive property portfolio
 Proven track record in property development and
investment
 Ability to form successful strategic partnerships
with reputable and well established companies
 Existing ‘on-the-ground’ relationships and
experience facilitate project management
THE DEVELOPMENT MANAGER
Backed by sound track record of project delivery

 Established in January 1967
 Listed on Malaysian Bourse in 1993
 Revenue for year ended 31 March 2013 of RM330 million (~ US$107 million)
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THE DEVELOPMENT MANAGER
Ireka Development Management is the exclusive development manager of
Aseana Properties and a wholly-owned subsidiary of Ireka Corporation Berhad
 Played a major role in Malaysia’s most
notable infrastructure projects such as
Kuala Lumpur International Airport
Runway 1 and Utility works, Malaysia
North-South Highway, Kuala Lumpur
Middle Ring Road II
 Other projects include: The Westin,
Putrajaya government offices, AIG
Head Office, OCBC Head Office and
DiGi (Telenor Group) Corporate Office
INFRASTRUCTURE REAL ESTATE
 Created i-ZEN brand of properties to
offer a distinct and unique lifestyle to
meet the needs of discerning,
contemporary property buyers
 Completed and sold over 2,000 units of
luxury residences in Malaysia
 Successfully developed and completed
a number of high profile development
projects in Malaysia including The
Westin Kuala Lumpur (sold at record
price) and an integrated development
comprising retail, offices and
residences in Mont’ Kiara
 Provision of a comprehensive range of
IT services
 Strategic alliances with world’s leading
IT providers
 Co-location Data Center services
 Service driven by a team of dedicated
professionals
TECHNOLOGIES

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THE COMPANY
ASPL is governed by a strong and experienced independent Board of Directors
Mohammed Azlan Hashim was appointed as Chairman (Non-Executive) of Aseana Properties in March 2007.
In Malaysia, Azlan serves as Chairman of several public entities, listed on Bursa Malaysia Securities Berhad, including D&O Green Technologies Berhad, SILK Holdings Berhad, Scomi Group Bhd and Deputy Chairman of IHH Healthcare Berhad.
He has extensive experience working in the corporate sector including financial services and investments. Among others, he has served as Chief Executive, Bumiputra Merchant Bankers Berhad, Group Managing Director, Amanah Capital Malaysia Berhad and Executive Chairman, Bursa Malaysia Berhad Group.
Azlan also serves as a Board Member of various government related organisations including Khazanah Nasional Berhad, Labuan Financial Services Authority and is a member of Employees Provident Fund and the Government Retirement Fund Inc. Investment Panels.
Azlan holds a Bachelor of Economics from Monash University, Melbourne and qualified as a Chartered Accountant in 1981. He is a Fellow Member of the Institute of Chartered Accountants, Australia, Malaysian Institute of Directors, Institute of Chartered Secretaries and Administrators and Hon. Member of the Institute of Internal Auditors, Malaysia and Member of the Malaysia Institute of Accountants.
Christopher Henry Lovell was appointed as Director (Non-Executive) of Aseana Properties in March 2007. He was a partner in Theodore Goddard between 1983 and 1993 before setting up his own legal practice in Jersey. In 2000, he was one of the founding principals of Channel House Trustees Limited, a Jersey regulated trust company, which was acquired by Capita Group plc in 2005, when he became a director of Capita’s Jersey regulated trust company until his retirement from Capita in 2010. Christopher was a director of BFS Equity Income & Bond plc between 1998 and 2004, BFS Managed Properties plc between 2001 and 2005 and Yatra Capital Limited between 2005 and 2010. His current non-executive directorships include Public Service Properties Investments Limited and a number of EMAC Illyrian property funds listed on the Channel Islands Stock Exchange. Christopher holds an L.L.B. (Hons) degree from the London School of Economics and is a member of the Law Society of England & Wales.
MOHAMMAD AZLAN HASHIM NON EXECUTIVE CHAIRMAN
CHRISTOPHER HENRY LOVELL NON EXECUTIVE DIRECTOR

Ismail Shahudin was appointed as Director (Non-Executive) of Aseana Properties in March 2007. Ismail is chairman of Maybank Islamic Berhad, Opus Group Berhad and also serves as Independent Non-Executive board member of several Malaysia public listed entities, among others, Malayan Banking Berhad which is Malaysia’s largest bank, EP Manufacturing Berhad, UEM Group Berhad which is a non-listed wholly-owned subsidiary of Khazanah Nasional Berhad, one of the Malaysia government’s investment arms. He is also a Non-Independent Non-Executive Director of Opus International Consultants Limited, a company listed on the New Zealand Stock Exchange and a director of MCB Bank Limited, Pakistan, a company listed on the Karachi Stock Exchange. Ismail started his career in ESSO Malaysia in 1974 before joining Citibank Malaysia in 1979. He was subsequently posted to Citibank’s headquarters in New York in 1984, returning to Malaysia in 1986 as the Vice President & Group Head of Public Sector and Financial Institutions Group. Subsequently, he served as the Deputy General Manager for the then United Asian Bank Berhad before joining Maybank in 1992 in which he had spent 10 years. Ismail subsequently assumed the position of Group CEO of MMC Corporation Berhad in 2002. Ismail holds a bachelor of Economics (Hons) degree from University of Malaya.
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David Harris was appointed as Director (Non-Executive) of Aseana Properties in March 2007. David is currently Chief Executive of InvaTrust Consultancy Ltd, a company that specialises in the provision of investment marketing services to the Financial Services Industry in both the UK and Europe. He was formerly Managing Director of Chantrey Financial Management Ltd, a successful investment and fund management company linked to Chartered Accountants, Chantrey Vellacott. Additionally, he also served as Director of the Association of Investment Companies overseeing marketing and technical training.
He is currently a non-executive director of a number of quoted companies in the UK including Character Group plc, Small Companies Dividend Trust plc, F&C Managed Portfolio Trust plc, Manchester & London Investment Trust plc and Core VCT V plc. He writes regularly for both the national and trade press and appears regularly on TV and Radio as an investment commentator. He is a previous winner of the award “Best Investment Adviser” in the UK.
DAVID HARRIS NON EXECUTIVE DIRECTOR
ISMAIL BIN SHAHUDIN NON EXECUTIVE DIRECTOR
THE COMPANY

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JOHN LYNTON JONES NON EXECUTIVE DIRECTOR
John Lynton Jones was appointed as Director (Non-Executive) of Aseana Properties in March 2007. Lynton is Chairman Emeritus of Bourse Consult, a consultancy that advises clients on initiatives relating to exchange trading, regulation, clearing and settlement. He has an extensive background as a chief executive of several exchanges in London, including the International Petroleum Exchange, the OM London Exchange and Nasdaq International (whose operations he set up in Europe in the late 1980s). He was chairman of the Morgan Stanley/OMX joint venture Jiway in 2000 and 2001.
He spent the first 15 years of his career in the British Diplomatic Service where he became private secretary to a minister of state and Financial Services Attaché at the British Embassy in Paris.
He has been a board member of London’s Futures and Options Association, of the London Clearing House and of Kenetics Group Limited. He was the founding chairman of the Dubai International Financial Exchange (now known as Nasdaq Dubai) from 2003 until 2006. He is an advisor to the City of London Corporation and a Fellow of the Chartered Institute for Securities and Investments. He was a Trustee of the Horniman Museum in London for 8 years until 2013. He studied at the University of Wales, Aberystwyth, where he took a first class honours in International Politics.
Gerald Ong was appointed as Director (Non-Executive) of Aseana Properties in September 2009. Gerald is Chief Executive Officer of PrimePartners Corporate Finance Group, has over 20 years of corporate finance related experience at various financial institutions providing a wide variety of services from advisory, M&A activities and fund raising exercises incorporating various structures such as equity, equity- linked and derivative-enhanced issues. In June 2007 he was appointed a Director of Metro Holdings Limited which is listed on the Singapore Exchange Securities Trading Limited.
Gerald has been granted the Financial Industry Certified Professional status and is an alumnus of the National University of Singapore, University of British Columbia and Harvard Business School.
GERALD ONG CHONG KENG NON-EXECUTIVE DIRECTOR
THE COMPANY

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THE MANAGEMENT TEAM
Voon Hon, Lai
CEO/President of Ireka Development Management Sdn. Bhd. (“IDM”) and Executive Director of Ireka Corporation Berhad (”ICB”). An architect by profession, practiced in London, Hong Kong and Malaysia prior to joining Ireka Group. A registered Professional Architect with the Board of Architects, Malaysia. Graduated from University College London, with a BSc (Hons) Degree in Architecture in 1987 and Post-graduate Diploma in Architecture (Dip-Arch) in 1989 and Ashridge Management College in 1993 with an MBA (Distinction).
Monica V.H. Lai
CFO of IDM and Executive Director of ICB. Practiced as an accountant for Ernst & Young and KPMG in London and Hong Kong respectively prior to joining Ireka Group. Fellow member of the Institute of Chartered Accountants, England and Wales, the Malaysian Institute of Accountants and the Malaysian Institute of Taxation. Graduated from City University, London, with a BSc (Hons) Degree in Accountancy & Economics.
Raymond Y.C. Chin
COO of IDM. A Civil Engineer by profession, he was involved in the development of some high profile projects such as the Renaissance & New World Hotels, Cendana Residence, Desa Damansara & Federal Hill luxury Condominiums in Kuala Lumpur, and The Estella luxury condominium & Riviera Cove Waterfront Villas in Ho Chi Minh City. He graduated from Liverpool Polytechnic, England with Bachelor of Civil Engineering (Hons) in 1984.
Chee Kian, Chan
CIO of IDM. Was previously a management and strategy consultant with Accenture in Singapore, Bangkok and Kuala Lumpur where he advised a broad range of clients including large multi-national companies, Government linked agencies and local enterprises throughout Asia Pacific on strategic and operational issues. He graduated from University of Bristol, England with First Class Honours in Civil Engineering.
The Manager of Aseana Properties is led by a team of personnel with hands-on property development and sound professional experience

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Leonard Yee
CEO of Ireka iCapital Sdn Bhd and i-Tech Network Solutions Sdn Bhd. Worked as a Surety and Financial Lines Underwriter with American International Group, Inc in London and New York before returning to Malaysia. Was previously an Executive Director of a local construction company and a Managing Director of an equities research firm before joining Ireka. Graduated from University of Kingston, Kingston-Upon- Thames, England with a Bachelor of Arts (Hons) Degree in Industrial Social Sciences.
David Yip
Country Head and Senior Vice President, Finance in Vietnam. Prior to joining Ireka, David Yip held senior position in a public-listed property development company. He has vast experience in project financing, property management and property investment within the real estate industry. David is a member of the Association of Chartered Certified Accountants (ACCA)
THE MANAGEMENT TEAM
The Manager of Aseana Properties is led by a team of personnel with hands-on property development and sound professional experience

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OUR PARTNERS
Malaysian Resources Corporation Berhad (“MRCB”) is one of Malaysia’s leading, Government-linked construction and property development company. MRCB has four core businesses: Property Development, Engineering & Construction, Infrastructure & Concessions and Building Services. MRCB is the owner and developer of the entire Kuala Lumpur Sentral Development, having won a concession to develop a railway and transportation hub from the Government in 1994, in exchange for land and development rights around the hub.
Nam Long Investment Corporation (“Nam Long”) is the leading private Vietnamese real estate developer and a recognized industry leader in township development. Established in 1992, Nam Long has over 20 years of experience in land banking and real estate development and is one of the first private real estate companies in Vietnam. Nam Long projects are located in Southern Vietnam, with a focus on Ho Chi Minh City and the outlying Mekong Delta suburbs of Long An and Can Tho. Nam Long possesses nearly 500 hectares of land bank located in key cities and townships of Ho Chi Minh City, Can Tho, Long An and Da Nang.
Hoa Lam Group is founded by a Vietnamese entrepreneur, Madam Lam. She initially ventured into the sandalwood business and motorcycles trading. Madam Lam achieved a major breakthrough when she won the exclusive rights to distribute Dealim motorbikes. Hoa Lam Motorbike Co. is the first private company to have a network of dealers and one of the first few which brought motorcycles in to the country, now one of the largest distributor in the country. She also cooperated with a US company to establish Vmicro, a micro electronic factory, and is behind the success of VietBank which underwent a restructuring exercise. Madam Lam is also involved in real estate development in Ho Chi Minh City.
Parkway is a leading healthcare group based in Singapore, operating 16 hospitals with more than 3,000 beds in Asia. Parkway’s extensive network spans across Asia, Europe and the Middle East with Parkway Patient Assistance Centres (PPAC) in Bangladesh, Brunei, Cambodia, China, India, Indonesia, Malaysia, Mongolia, Myanmar, Pakistan, the Philippines, Russia, Saudi Arabia, Sri Lanka, Ukraine, United Arab Emirates and Vietnam. With a team of more than 1,200 accredited specialists covering 40 different specialties, Parkway is committed to its vision to be a global leader in value-based integrated healthcare.

Voon Hon, Lai voonhon.lai@ireka.com.my
Monica Lai monica.lai@ireka.com.my
Chee Kian, Chan cheekian.chan@ireka.com.my
Vietnam Office: Unit 4 &5, 10th Floor, Vinamilk Tower 10 Tan Trao Street Tan, Phu Ward, District 7, Ho Chi Minh City Vietnam P: +848 5411 1233 F: +848 5411 1299
Malaysia Office: Level 18, Wisma Mont’ Kiara No. 1, Jalan Kiara, Mont’ Kiara 50480 Kuala Lumpur Malaysia P: +603 6411 6388 F: +603 6411 6383 www.ireka.com.my
12 Castle Street St. Helier, Jersey JE2 3RT Channel Islands T: +44 (0) 1534 847000 F: +44 (0) 1534 847001 www.aseanaproperties.com
Ireka Development Management Sdn. Bhd

ASEANA PROPERTIES CORPORATE PRESENTATION

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ASEANA PROPERTIES CORPORATE PRESENTATION